- Commercial/Residential Investment
- VAT applicable but TOGC
- Passing rent £77,133
- Fully refurbished 2015
- 2 showrooms and 3 flats
Gillingham is a town in the Blackmore Vale within North Dorset. It is approximately 4 miles south of the A303 trunk road and 5 miles north west of Shaftesbury. It lies on the B3095 and B3081 roads. The town is well located for the A303 and benefits from a mainline railway station on the Exeter to London Waterloo line.
The property is located in Newbury to the south east of the main retail centre of the town. Newbury in turn leads into the High Street. The adjacent occupier is Lidl with other occupiers in close proximity including Costa and a good range of local retailers. The Royal Lodge retirement scheme constructed by Churchill is close as is the towns RiversMeet Leisure Centre. Newbury is a thriving district of the town benefiting from both a dentist and doctors surgeries.
All other usual town centre amenities are within a short walk including Waitrose and the train station.
Freehold town centre commercial and residential investment. Comprising 2 showrooms and 3 two bedroom flats. Passing rent £77,133 pa.
The property comprises a modern building that has been extensively redeveloped in 2015. The property is finished and fitted out to an extremely high standard.
Benefiting from excellent road frontage, the building comprises on the ground floor two commercial showrooms with residential upper parts. One of the units is a Carpet and Interior shop and the other comprises extensive accommodation for Dignity Funeral Directors over two floors.
At the rear of the building is a communal courtyard providing rear access for the funeral directors together with ancillary accommodation including garaging for both Dignity and residential tenants.
The first floor comprises three flats each being fully self-contained. Access to the three flats is via their own entrance to the side of the building or rear door from the car port.
The property is held freehold including the shared rear access and courtyard.
It should be noted that an upper floor storage room at the rear of the property has been sold on a long leasehold basis to the adjoining residential occupier.
A significant part of the property is occupied by Dignity Funerals Ltd (Trading as Bracher Brothers established 1866) under a lease dated 2015 with an expiry date in 2030. The lease has a break date in 2025. The other commercial tenant is Cullingford Carpets Limited who have a 10 year lease with an expiry in 2025 and a 5 year break option.
The three flats are let on AST's and fully managed by a local company.